US EditionGas Prices Soar by 21% as Government Inflation Figures Reflect Trump’s War on Iran
Fuel costs drove the monthly inflation surge, and gasoline prices rose 21.2% as Americans faced the highest annual CPI increase since May 2024.
- Inflation rose 3.3% in March, driven largely by a 21.2% spike in gas prices, according to the Bureau of Labor Statistics, marking the sharpest annual increase in four years.
- Iran's de facto takeover of the Strait of Hormuz has caused the largest global oil supply disruption in history, with only 10 tankers transiting Tuesday compared to roughly 140 vessels daily before the conflict, according to the International Energy Agency.
- As of Friday, Americans paid an average $4.15 per gallon for regular gas and $5.68 for diesel, according to AAA, while consumer sentiment plunged to a record low in April, according to the University of Michigan.
- White House senior deputy press secretary Kush Desai stated the administration is working to mitigate disruptions, while Democratic National Committee Chair Ken Martin criticized President Donald Trump for "pushing working families to the brink."
- Rising costs could complicate the president's party's efforts to retain seats in Congress during next year's midterm elections, as Michael Pearce, chief U.S. economist at Oxford Economics, warned inflation will get "more painful in April.
17 Articles
17 Articles
Inflation Hit Highest 1 Month Spike In 4 Years Due To Iran War
Source: Mario Tama / Getty While Iran and the United States have agreed to a two-week ceasefire that’s looking shakier by the day, the impact of the war is still being felt by the global economy. Last month, inflation rose at its sharpest in four years, largely driven by higher gas prices. According to NBC News, inflation rose to 3.3% in March, up 0.9% from the month before. Gas prices increased by 21.2%, their largest single-month increase sin…
Ohio Capital Journal
Gas prices soar by 21% as government inflation figures reflect Trump’s war on Iran
An Indianapolis gas pump shows prices over $4 a gallon on Tuesday, April 7, 2026. (Photo by Niki Kelly/Indiana Capital Chronicle)WASHINGTON — Spikes in energy prices caused by the U.S.-Israeli war in Iran drove up inflation for Americans in March, according to the latest consumer price index figures released Friday. Costs jumped 0.9% in March compared to the previous month — that’s up from the 0.3% increase in February. Prices for all items tog…
Inflation reports in the T-MEC region for March are showing the first effects of the conflict in the Middle East.Inflation in the United States last March climbed to 3.3% per year (0.9% per month).This increase represented a significant leap from the 2.4% recorded in February 2026, reaching its highest level in almost two years.The main trigger of the increase was the price of fuels: gasoline skyrocketed 21.2% in annual terms, an increase that h…
US CPI for March yet to reflect full impact of Iran conflict: 3.3%, slightly below 3.4% expected
The Corner Bankinter | The CPI rose slightly less than expected in March: 3.3% against an estimate of 3.4% and a previous reading of 2.4%. Core rate 2.6% compared to an estimated 2.7% and the previous 2.5%. Analysis team’s view: the monthly figure (0.9% month-on-month) is the highest since June 2022, driven by the energy shock following the outbreak of the conflict in the Middle East. The rise excluding energy is more...
The Labor Department reported Friday that inflation accelerated sharply in March, to 3.3 percent, from 2.4 percent the previous month.
Coverage Details
Bias Distribution
- 67% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
